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N.C. league thanks Sen. Hagan for fin-lit bill

GREENSBORO, N.C. (7/10/09)--The North Carolina Credit Union League has sent a letter to U.S. Sen. Kay Hagan (D-N.C.) thanking her for introducing the Financial Literacy for Students Act of 2009 (S.B. 1339). Hagan introduced the bill on June 24. The bill aims to improve financial literacy among middle and high school students by giving states federal grants for integrating financial literacy curriculum in their schools statewide. The bill provides that 80% of funds would be earmarked for curriculum, with 20% for training teachers. League President John Radebaugh wrote in the letter, "Credit unions work hard to ensure that the next generation is responsible with their financial futures, and the Financial Literacy for Students Act of 2009 can only solidify that promise." Radebaugh noted that North Carolina credit union employees each year conduct 350 financial education workshops that reach more than 15,000 students. He mentioned the National Endowment for Financial Education's High School Financial Planning Program, Biz Kid$ curriculum based on the popular PBS show about young entrepreneurs, and Credit and Money Management. The league holds a seat on the board of the North Carolina Jump$tart Coalition, and the Carolinas Credit Union Foundation helps underwrite Biz Kid$ programming as well as provides supporting materials to more than 500 middle schools. Hagan is a "big supporter of credit unions' efforts in financial literacy," the league said on its website. "As our students enter the work force," the senator said in a statement released by her office, "it is critical that they have the tools they need to make sound financial decisions when applying for credit cards, securing student loans, taking out a mortgage and managing a budget."